In May, the Board of Directors of Danish Crown and the Executive Board started work on a new group strategy, which is expected to be ready for presentation in the autumn. Prior to this, Group CEO Jais Valeur has discussed with Chairman of the Board Asger Krogsgaard the need to find a long-term CEO profile to take Danish Crown through the next strategy period. The Board of Directors has now decided to accelerate this process.
“Both the Board and Jais have come to the conclusion that Danish Crown needs a new leadership and one that will be in place for the duration of the comprehensive task ahead of us. Jais is handing over a core business which in many ways is geared to delivering positive and long-term value creation for us, its owners. However, it is vital for the Board of Directors that we always pay competitive settlement prices to our owners, and the situation at the moment is such that Danish Crown’s competitiveness must be improved. Therefore, we believe it is important for all parties to start the forthcoming strategy process in the knowledge that the strategy will be executed by a new CEO,” says Asger Krogsgaard.
The process of appointing a new Group CEO has commenced. It has been agreed that Jais Valeur will head the business until a replacement has been found to ensure no momentum is lost during the recruitment process.
“Earlier in the year, I informed Danish Crown that I do not see myself as CEO of the company in the longer term. I can therefore appreciate why the Board of Directors wants to accelerate this process and look further ahead to ensure that the company can embrace its new strategy with a new Executive Board in place for the longer term. Danish Crown has come a long way while I’ve been at the helm, but there is still a huge and also highly exciting task facing the company in the coming years. It will call for a massive and persistent effort by the Executive Board. I will now focus on steering Danish Crown through the coming period to create the best possible conditions for my replacement. Danish Crown is a fantastic company with dedicated employees and huge unfulfilled potential,” says Jais Valeur.
“Jais has worked extremely hard for Danish Crown for the almost nine years that he has headed our business. Under his leadership, the group has been extensively developed and professionalised. It says everything about Jais’s sense of dedication to Danish Crown that he has agreed to stay on to ensure consistent leadership focus in the organisation until his replacement is ready to take over. I have great respect for that,” says Asger Krogsgaard.
Danish Crown can also announce that an agreement has been reached with a new Group CFO who will be starting on 1 December, taking over from Thomas Ahle who, as previously announced, has decided to join the STARK Group. The name of the new Group CFO will be announced after the summer holidays out of consideration for the person’s current employer.
Group Executive Vice President Tim Ørting Jørgensen will continue to have management responsibility for the core Danish Crown Business Unit, and remain on the Executive Board which will prepare the new group strategy in collaboration with the Board of Directors.